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European stocks traded in the green zone for a fifth straight session, continuing to recover from the collapse caused by the British referendum results. Positive impact on the market had the financial statements of companies in the region, as well as the reduction of political uncertainty in the UK.
As previously reported, the new leader of the ruling party in Britain was the current head of the Ministry of Internal Affairs Theresa May, which will replace David Cameron as prime minister. Cameron stressed that the new prime minister is ready to provide full support. Recall, May advocated the preservation of the country within the EU, Earlier policies gained the support of more than half of the total number of representatives of the Conservative Party in the Parliament.
A slight pressure on the indices after the euro area economic data. Eurostat Statistical Office reported the seasonally adjusted volume of industrial production in the euro area fell in May by 1.2% after rising 1.4% in the previous month. Experts predicted a decrease of 0.8%. Among the EU countries, industrial production decreased by 1.1% after rising 1.5% in April. On an annual basis, industrial production increased by 0.5% in the euro area and by 1.1% in the EU. It was expected that production in the euro zone will grow by 1.4% after rising 2.2% in April. Among the Member States, the largest decline in industrial production was recorded in the Netherlands (-7.8%), Portugal (-4.4%), Greece (-4.3%) and Romania (-4.0%). A increase was recorded in Lithuania (+ 3.9%), Latvia (+ 2.4%), Slovenia (+ 0.6%) and Malta (+ 0.3%).
The composite index of the largest companies in the region Stoxx Europe 600 up 0.3 percent. Over the last four sessions of the index rose by about 5.5 percent.
"There is still a lot of uncertainty about what will happen to UK and how quickly these negotiations will unfold. But at the moment anxiety decreased and orporate reporting is very important to o convince investors that there is a space for the growth of shares of European companies - said Benno Galiker trader Luzerner Kantonalbank.
Burberry Group Plc shares rose 2.2 percent after the company reported that in the first quarter sales exceeded analysts' forecasts.
Shares of mining companies also traded in positive territory - Antofagasta Plc quotes and ArcelorMittal rose at least 2.7 percent.
Quotes Playtech Plc rose 4.6 percent against the backdrop of the Best Gaming Technology GmbH acquisitions for 138 million. Euro.
Shares of Italian lenders decreases after rising 20 percent in the past four days. Shares of UBI Banca SpA and Banco Popolare SC fell more than 3.4 percent.
At the moment:
FTSE100 6,693.35 +12.66 + 0.19%
CAC40 4,349.98 +18.60 + 0.43%
DAX 9,975.56 +11.49 + 0.12%
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